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Econet says data sales volumes up 58%

by Staff reporter
17 Jul 2022 at 09:19hrs | Views
LEADING telecommunications company, Econet Wireless Zimbabwe (EWZ) has seen data sales volumes increasing by 58%, surpassing the voice bundles by a huge margin in a trend which testifies to emerging dynamics in recent times.

Presenting the group's performance for the period ended February 2022, EWZ board chairman, James Myers, said; "Volume increases in data and voice of 58% and 19%, reflected the increased demand from our customers.

"Stringent cost alignment measures and close monitoring of the business' cost structure had a positive result on the earning."

The marked increase in the segment comes on the back of increased usage of the internet which has become a pertinent vehicle in modern day business.

During the period, EWZ investment in infrastructure over the years has however been on a downward trend as a result of acute foreign currency shortages in the country.

The business has been investing an average of 5% of revenue compared to other telecommunication peers in the region whose average annual capital investment is over 15% of revenue. This continues to have an adverse effect on the customer experience.

In terms of revenue performance, in inflation adjusted terms, the business contributed to the fiscus more than ZW$ 31,1 billion through various statutory payments in the current year, a 53% increase from the ZW$ 20,3 billion paid in prior year.

"We remain committed to maintaining our position as the digital service provider of choice in Zimbabwe, and so it is important that we continue investing in infrastructure and capacity enhancements to meet needs and expectations.

"Investment in network upgrades and increased 5G coverage will be at the core of our digital transformation journey," added Myers.

Source - NewZimbabwe